Latest news with #Okuda
Business Times
23-05-2025
- Business
- Business Times
Nomura raises top executives' pay to highest in over a decade
NOMURA Holdings increased pay for its top executives to the highest in more than a decade, as Japan's biggest brokerage posted a record annual profit on the back of the nation's retail investment boom. Compensation paid in the year ended March to the company's seven executive officers totaled 4.6 billion yen (S$41.3 million), up 3 per cent from the previous year when there were eight such officers, according to a notice for a planned annual shareholders meeting next month. On average their pay rose 18 per cent. Chief executive officer Kentaro Okuda is among the executive officers along with Christopher Willcox, who oversees investment banking and securities trading. The raise came even after some executives including Okuda took voluntary pay cuts for a pair of scandals that surfaced in the period. The Tokyo-based firm earned a record 340.7 billion yen profit last fiscal year as the return of inflation to Asia's second-largest economy energised investors. Pretax income at Willcox's wholesale division hit a 15-year high as global securities trading rebounded and cost controls improved. Dealmaking got a boost from Japan's corporate governance overhaul. Cash bonuses for the executive officers rose 88 per cent to 2.3 billion yen, while base salaries grew slightly to 607 million yen. Compensation includes stock awards as well. Nomura is in expansion mode, having recently clinched a deal to buy Macquarie Group's US and European public asset management business. The brokerage is also weighing a return to offering cash prime-brokerage services in the US and Europe - businesses it largely exited four years ago when it lost US$2.9 billion tied to the collapse of Archegos Capital Management. Last year's results were blemished by revelations of bond market manipulation and charges of attempted murder against a former employee. CEO Okuda and other executives volunteered to return a portion of their pay for several months following the incidents. BLOOMBERG
&w=3840&q=100)
Business Standard
22-04-2025
- Business
- Business Standard
Nomura to buy Macquarie's US, European asset management units for $1.8 bn
The Japanese company has had a troubled history in its attempts to expand overseas, including the acquisition of assets from the collapsed Lehman Brothers in 2008 which it later wrote down Reuters Washington Nomura is acquiring Macquarie Group's US and European public asset management businesses for $1.8 billion, marking the Japanese investment bank's most ambitious expansion abroad since its failed purchase of Lehman Brothers' assets. Japan's largest investment bank and brokerage will take over the management of the publicly traded assets, the companies said on Tuesday. It will also take over the investment teams and operating platforms relating to the businesses, and retain the existing management team. The Japanese company has had a troubled history in its attempts to expand overseas, including the acquisition of assets from the collapsed Lehman Brothers in 2008 which it later wrote down. But the Macquarie assets deal, which Nomura said is its largest acquisition ever, comes as companies in Japan face a shrinking domestic market and are increasingly seeking growth opportunities abroad. Asset management has become a core growth area for Japanese financial institutions looking to secure stable fee-based revenue that is less impacted by the ups and downs of market sentiment. "The market now is very unstable but the biggest factor in our mid to long term plan is to have a robust investment management platform," Nomura CEO Kentaro Okuda told a press conference. "This transaction had a very prudent due diligence process and should be durable against the volatility of the market," Okuda added. The announcement of tariffs by US President Donald Trump may lead to a rebalancing of sectors which would provide opportunities for active investment managers, Nomura's head of investment management, Yoshihiro Namura, told the briefing. The deal is expected to close by the end of 2025 and will be settled entirely by cash with no financing directly related to the transaction planned, Okuda said. Nomura's previous investments include buying boutique investment bank Greentech Capital Advisors in 2019 and acquiring a 41 per cent stake in investment management firm American Century Investments for over $1 billion in 2016. Upon the deal's completion, Nomura's total assets under management within its investment management franchise are expected to increase to around $770 billion from approximately $590 billion currently, Nomura said. Nomura's shares climbed 0.6 per cent on Tuesday morning while the benchmark Nikkei index was roughly flat. Macquarie shares rose around 1.5 per cent. Macquarie Group, Australia's biggest investment bank by assets, will retain its public investments business in its domestic market, where it plans to continue operating an asset management business spanning both public and private markets. The Australian financial conglomerate said that, as part of the deal, it would collaborate with Nomura on product and distribution. Macquarie has been strategically reshaping its North American operations, having already withdrawn from several debt market segments. It is shuttering its US debt capital markets division, according to multiple media reports in February, pivoting instead to its private credit business, which has already deployed over A$22.5 billion in loans. "Overall, the transaction sharpens the focus of Macquarie Asset Management back to its competitive strengths - private markets and its home market of Australia," Citi analyst Thomas Strong wrote in a report.
The Standard
22-04-2025
- Business
- The Standard
Nomura to buy Macquarie's US, European asset management units for US$1.8 billion
Nomura is acquiring Macquarie Group's US and European public asset management businesses for US$1.8 billion (HK$14.04 billion), marking the Japanese investment bank's most ambitious expansion abroad since its failed purchase of Lehman Brothers' assets. Japan's largest investment bank and brokerage will take over the management of the publicly traded assets, the companies said on Tuesday. It will also take over the investment teams and operating platforms relating to the businesses, and retain the existing management team. The Japanese company has had a troubled history in its attempts to expand overseas, including the acquisition of assets from the collapsed Lehman Brothers in 2008 which it later wrote down. But the Macquarie assets deal, which Nomura said is its largest acquisition ever, comes as companies in Japan face a shrinking domestic market and are increasingly seeking growth opportunities abroad. Asset management has become a core growth area for Japanese financial institutions looking to secure stable fee-based revenue that is less impacted by the ups and downs of market sentiment. "The market now is very unstable but the biggest factor in our mid to long term plan is to have a robust investment management platform," Nomura chief executive Kentaro Okuda told a press conference. "This transaction had a very prudent due diligence process and should be durable against the volatility of the market," Okuda added. The announcement of tariffs by US President Donald Trump may lead to a rebalancing of sectors which would provide opportunities for active investment managers, Nomura's head of investment management, Yoshihiro Namura, told the briefing. The deal is expected to close by the end of 2025 and will be settled entirely by cash with no financing directly related to the transaction planned, Okuda said. Nomura's previous investments include buying boutique investment bank Greentech Capital Advisors in 2019 and acquiring a 41 percent stake in investment management firm American Century Investments for over US$1 billion in 2016. Upon the deal's completion, Nomura's total assets under management within its investment management franchise are expected to increase to around US$770 billion from approximately US$590 billion currently, Nomura said. Nomura's shares climbed 0.6 percent on Tuesday morning while the benchmark Nikkei index was roughly flat. Macquarie shares rose around 1.5 percent. Macquarie Group, Australia's biggest investment bank by assets, will retain its public investments business in its domestic market, where it plans to continue operating an asset management business spanning both public and private markets. The Australian financial conglomerate said that, as part of the deal, it would collaborate with Nomura on product and distribution. Macquarie has been strategically reshaping its North American operations, having already withdrawn from several debt market segments. It is shuttering its US debt capital markets division, according to multiple media reports in February, pivoting instead to its private credit business, which has already deployed over A$22.5 billion (HK$112.36 billion) in loans. "Overall, the transaction sharpens the focus of Macquarie Asset Management back to its competitive strengths - private markets and its home market of Australia," Citi analyst Thomas Strong wrote in a report.
CNA
22-04-2025
- Business
- CNA
Nomura to buy Macquarie's US, European asset management units for $1.8 billion
Nomura is acquiring Macquarie Group's U.S. and European public asset management businesses for $1.8 billion, marking the Japanese investment bank's most ambitious expansion abroad since its failed purchase of Lehman Brothers' assets. Japan's largest investment bank and brokerage will take over the management of the publicly traded assets, the companies said on Tuesday. It will also take over the investment teams and operating platforms relating to the businesses, and retain the existing management team. The Japanese company has had a troubled history in its attempts to expand overseas, including the acquisition of assets from the collapsed Lehman Brothers in 2008 which it later wrote down. But the Macquarie assets deal, which Nomura said is its largest acquisition ever, comes as companies in Japan face a shrinking domestic market and are increasingly seeking growth opportunities abroad. Asset management has become a core growth area for Japanese financial institutions looking to secure stable fee-based revenue that is less impacted by the ups and downs of market sentiment. "The market now is very unstable but the biggest factor in our mid to long term plan is to have a robust investment management platform," Nomura CEO Kentaro Okuda told a press conference. "This transaction had a very prudent due diligence process and should be durable against the volatility of the market," Okuda added. The announcement of tariffs by U.S. President Donald Trump may lead to a rebalancing of sectors which would provide opportunities for active investment managers, Nomura's head of investment management, Yoshihiro Namura, told the briefing. The deal is expected to close by the end of 2025 and will be settled entirely by cash with no financing directly related to the transaction planned, Okuda said. Nomura's previous investments include buying boutique investment bank Greentech Capital Advisors in 2019 and acquiring a 41 per cent stake in investment management firm American Century Investments for over $1 billion in 2016. Upon the deal's completion, Nomura's total assets under management within its investment management franchise are expected to increase to around $770 billion from approximately $590 billion currently, Nomura said. Nomura's shares climbed 0.6 per cent on Tuesday morning while the benchmark Nikkei index was roughly flat. Macquarie shares rose around 1.5 per cent. Macquarie Group, Australia's biggest investment bank by assets, will retain its public investments business in its domestic market, where it plans to continue operating an asset management business spanning both public and private markets. The Australian financial conglomerate said that, as part of the deal, it would collaborate with Nomura on product and distribution. Macquarie has been strategically reshaping its North American operations, having already withdrawn from several debt market segments. It is shuttering its U.S. debt capital markets division, according to multiple media reports in February, pivoting instead to its private credit business, which has already deployed over A$22.5 billion in loans. "Overall, the transaction sharpens the focus of Macquarie Asset Management back to its competitive strengths - private markets and its home market of Australia," Citi analyst Thomas Strong wrote in a report. ($1 = 1.5596 Australian dollars)
Reuters
17-03-2025
- Business
- Reuters
Japan's Nomura ties up with regional bank Hyakujushi to boost wealth business
TOKYO, March 17 (Reuters) - Nomura Holdings (8604.T), opens new tab, Japan's largest securities firm, said on Monday it has partnered with regional lender Hyakujushi Bank (8386.T), opens new tab to boost its wealth management services. Hyakujushi Bank, based in Kagawa prefecture, will pass on some of its customer accounts, such as stock and bond investment trust accounts, to Nomura, which, in turn, will transfer staff to Hyakujushi and provide access to its financial platform, according to the statement from Nomura. Japan's financial institutions have sought to develop their asset and wealth management businesses to generate income from the mammoth savings held by Japanese households, of which around half is currently held in cash and deposits. For years authorities have called on savers to invest in higher-return financial products and now that inflation has returned to Japan to diminish the value of cash holdings, the shift away from cash has picked up speed. "Interest in asset formation is continuing to rise," Nomura CEO Kentaro Okuda said at a press briefing. "Every day I feel the role we must play and expectations of us are getting larger." Households in Kagawa have among the highest average savings rates of any prefecture in Japan, Nomura said in its release. Nomura and Hyakujushi will also discuss working together to advise customers on inheritance, business succession and public listings. This is the sixth alliance Nomura has established with a regional bank and Okuda left open the possibility of more such alliances. The announcement steps up the competition with online banking group SBI Holdings (8473.T), opens new tab, which has also signed agreements with a series of regional banks. The tie-up is set to begin before March 2027 and the impact on each firm's earnings is currently unclear, Nomura said.
